If all education in the United States were provided by private, tuition-charging schools,
A) too much education would be consumed.
B) too little education would be consumed.
C) the efficient level of education would be provided.
D) the government would provide both students and schools with vouchers.
E) education would no longer have an external benefit.
B
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With respect to market and nonmarket production, on average working women are ________ diversified than men and receive ________ pay as a result
A) less; lower B) less; higher C) more; lower D) more; higher
The estimated demand for a good is
= 4800 - 16P - 0.65M - 1.5PRwhere Q is the quantity demanded of the good, P is the price of the good, M is income, and PR is the price of related good R. If the price of the good rises by $10, all else constant, the quantity demanded will ________ by ________ units.
A. increase; 16 units B. decrease; 160 units C. increase; 150 units D. decrease; 1.5 units
When one uses the expenditure approach to calculate Gross Domestic Product (GDP), which of the following would be included?
A. government spending at the state level B. inventory investment C. household purchases of legal services D. all of these
Assume the CPI increases from 110 to 121, and Manny's nominal income increases from $100,000 to $120,000 over the same period. Manny's real income has
A. Decreased by approximately 8 percent. B. Increased by approximately 12 percent. C. Remained the same. D. Increased by approximately 9 percent.